From Home Furnishing Business
Fast Fact: Top Spending Furniture Consumers are High-Earning 35 to 44-year-olds
The majority of top-spending furniture consumers are high-earning married consumers, in their late 30s and early 40s with young children, living in urban areas, according to data from the U.S. Bureau of Labor Statistics’ 2017 Consumer Expenditure Survey.
Ages 35 to 44 spent an average of $663 per furniture expenditure in 2017 – the highest of the age groups. At an annual average of $538, ages 25 to 34 are spending more per purchase than ages 45 to 54 ($517).
High income earners spent three-times to four-times the level of middle class households in 2017. Households with incomes between $150,000 to $199,999 spent an annual furniture expenditure average of $1,132 compared to $700 for those earning between $100,000 and $149,999 – a 61.7 percent increase.
For an in-depth look at the data, click here.